- ExxonMobil is advancing its $24 billion Rovuma LNG project in Mozambique. FEED is underway, and a final investment decision is expected by 2026.
- The company is expanding its exploration activities in Southern Africa, with new deepwater investments in Nigeria’s reserves and participation as a platinum sponsor at Africa Oil Week.
With several significant initiatives, ExxonMobil is enhancing its role as a leading force in Africa’s energy sector. The multinational oil and gas company is making strides in strengthening energy security through its upstream operations while maintaining industry-leading emissions intensity.
A recent highlight includes ExxonMobil upstream president Liam Mallon’s meeting with Mozambican President Filipe Nyusi, reaffirming the commitment to the $24 billion Rovuma LNG project. Mallon confirmed that front-end engineering design (FEED) is underway and outlined a path toward a final investment decision by 2026.
In Southern Africa, ExxonMobil is prominently involved in exploration activities in the Namibe basin offshore Angola. The spudding of a wildcat well in this region has generated significant industry interest, potentially impacting regional energy development results.
In Nigeria, ExxonMobil is shifting focus to deepwater investments following the near-finalization of its sale of shallow-water joint venture assets. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) recently estimated Nigeria’s reserves at 37.5 billion barrels and ExxonMobil’s deepwater expertise positions it to drive the next phase of development for Africa’s largest oil reserves.
ExxonMobil will also expand its involvement in African energy at the upcoming Africa Oil Week (AOW), where it will serve as a platinum sponsor. Richard Barke, ExxonMobil’s Vice President of Exploration for Africa, will deliver a keynote address at the event, discussing the company’s strategic vision for the continent.
Barke emphasised, “Africa’s energy landscape offers a unique combination of opportunity and potential, aligning well with global energy demands.” Through partnerships and its expertise in deepwater exploration, ExxonMobil continues to solidify its critical role in shaping Africa’s energy future.